FEDERAL: PROGRAMS AND RESOURCES
Economic Injury Disaster Loan Program
This program provides small businesses with working capital loans of up to $2 million to help overcome the temporary loss of revenue they are experiencing. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the impact of this disaster. The application deadline is December 21, 2020.
For more information: www.sba.gov
Paycheck Protection Program
This loan program is designed to provide a direct incentive for small businesses to keep their workers on payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the funds are used for payroll, rent, mortgage interest or utilities.
For more information: www.sba.gov
Economic Injury Disaster Loan
Small business owners in Maryland are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
To apply: www.covidl9relief.sba.gov
Express Bridge Loan Pilot Program
This program allows small businesses that currently have an SBA loan to access up to an additional $25,000 in loan funds. Find an Express Bridge Loan Lender by connecting with your local SBA District Office.
For more information: www.sba.gov/local-assistance
Department of Labor: Wages, Hours and Leave
The Department of Labor provides guidance on common issues employers and workers face when responding to COVID-19, including the effects on wages and hours worked under the Fair Labor Standards Act and job-protected leave under the Family and Medical Leave Act.
For more information: www.dol.gov/agencies/whd/pandemic
This program provides small businesses with working capital loans of up to $2 million to help overcome the temporary loss of revenue they are experiencing. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the impact of this disaster. The application deadline is December 21, 2020.
For more information: www.sba.gov
Paycheck Protection Program
This loan program is designed to provide a direct incentive for small businesses to keep their workers on payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the funds are used for payroll, rent, mortgage interest or utilities.
For more information: www.sba.gov
Economic Injury Disaster Loan
Small business owners in Maryland are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
To apply: www.covidl9relief.sba.gov
Express Bridge Loan Pilot Program
This program allows small businesses that currently have an SBA loan to access up to an additional $25,000 in loan funds. Find an Express Bridge Loan Lender by connecting with your local SBA District Office.
For more information: www.sba.gov/local-assistance
Department of Labor: Wages, Hours and Leave
The Department of Labor provides guidance on common issues employers and workers face when responding to COVID-19, including the effects on wages and hours worked under the Fair Labor Standards Act and job-protected leave under the Family and Medical Leave Act.
For more information: www.dol.gov/agencies/whd/pandemic
